Opec Cuts should be maintained this year

Current oil production cuts must be maintained, at least this is Saudi Arabia's wish. The Arabs have asked OPEC members for any changes to be postponed beyond the April meeting.

Khalid al-Falih, Saudi minister of energy, said that while inventory levels are rising and far from normal levels, it is possible to continue on the way, guiding the market to balance.

Other major producers also maintained the same bias. Russia and Iraq have said that today the price of oil is acceptable to both parties, consumers and producers. According to Alexander Novak, Russia's oil minister, "What you can see is that the volatility level is extremely low," he said.

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